Turmeric price is increasing daily and on Wednesday the commodity reached Rs 6,000 a quintal.
“The price of finger variety has touched Rs 6,000 a quintal, without any valid reason. We feel that the prices are appraised due to the low arrival and also buying by the stockists. But considering the situation, the same price will not remain for long but decrease soon,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
He said till date no exporter has received fresh orders from North India. Further, the price in turmeric futures remains at Rs 4,600 to Rs 4,800 a quintal.
Mr Ravishankar said the arrival of turmeric to the four markets has decreased to 6,100 bags and 90 per cent of the stocks were sold. Almost all the stocks were purchased by the stockists. He is of the opinion that the prices may increase to more than Rs 10,000 in 2014.
Mr Palanisamy, a turmeric farmer, said that he is keeping the quality goods with him and selling the medium variety now for his domestic expenses.
On Wednesday, the price reached Rs 6,169 a quintal in the Erode Cooperative Marketing Society.
The finger variety price has improved heavily, while root variety decreased.
At the Erode Turmeric Merchants Association Sales yard, the finger variety was sold at Rs 2,409 to Rs 5,137 a quintal, root variety Rs 2,366 to Rs 4,711 a quintal.
Salem Crop: The finger variety was sold at Rs 5,901 to Rs 6,269 a quintal, root variety Rs 4,106 to Rs 5,136 a quintal. Of the 955 bags of
turmeric kept for sales, 520 bags were sold.
At the Regulated Marketing Committee, the finger variety was sold at Rs 5,299 to Rs 5,901 a quintal, root variety Rs 5,239 to Rs 5,416 a quintal.
All the 538 bags kept for sales were sold.
At the Erode Cooperative Marketing Society, finger variety was sold at Rs 4,299 to Rs 5,869 a quintal, root variety Rs 3,677 to Rs 5,209 a quintal. All the 887 bags kept for sales were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety was sold at Rs 3,899 to Rs 6,169 a quintal, root variety Rs 3,272 to Rs 5,019 a quintal. All the 49 bags kept for sales were sold.